Core Viewpoint - The stock of Changfei Optical Fiber and Cable experienced significant price fluctuations, with a cumulative increase of over 20% from September 16 to September 18, 2025, prompting an investigation into abnormal trading behavior [1] Company Performance - In the first half of 2025, the company reported total revenue of approximately RMB 6.384 billion, representing a year-on-year increase of about 19.38% [1] - The net profit attributable to shareholders was approximately RMB 296 million, reflecting a year-on-year decline of about 21.71% [1] Market Conditions - The global optical fiber and cable industry continues to face challenges, including insufficient effective demand in the telecommunications market and declining average prices [1] - The demand for optical fiber and cable products related to data centers is currently low, with hollow-core fibers being an emerging product that has not yet achieved stable sales or profit levels [2] Stock Valuation - As of September 18, 2025, the company's A-share stock had a rolling price-to-earnings (P/E) ratio of approximately 141 times, indicating a potential risk of overvaluation [3]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 長飛光纖光纜股份有限公司 Yangtze Optical Fibre and Cable Joint Stock Limited Company* （於中華人民共和國註冊成立之股份有限公司） （股份代號：6869） 海外監管公告 本公告由長飛光纖光纜股份有限公司（「本公司」）根據香港聯合交易所有限公司證 券上市規則第13.10B條作出。 以下為本公司於上海證券交易所網站刊發之《長飛光纖光纜股份有限公司關於股 票交易異常波動的公告》，僅供參閱。 馬杰 中國武漢，二零二五年九月十八日 於本公告日期，董事會包括執行董事莊丹先生；非執行董事馬杰先生、郭韜先 生、弗雷德里克•佩森先生、皮埃爾•法奇尼先生、哈馬萬德•施羅夫先生、熊向峰 先生及梅勇先生；獨立非執行董事滕斌聖先生、宋瑋先生、李長愛女士及曾憲芬 先生。 * 僅供識別 承董事會命 長飛光纖光纜股份有限公司 Yangtze Optical Fibre and ...

证券之星消息，9月18日通信设备板块较上一交易日上涨1.01%，德科立领涨。当日上证指数报收于 3831.66，下跌1.15%。深证成指报收于13075.66，下跌1.06%。通信设备板块个股涨跌见下表： 从资金流向上来看，当日通信设备板块主力资金净流出4.08亿元，游资资金净流出19.34亿元，散户资金 净流入23.42亿元。通信设备板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600487 | 亨通光电 | 9.57 Z | 23.06% | -6.00 Z | -14.45% | -3.57 Z | -8.61% | | 600498 烽火通信 | | 8.79亿 | 20.52% | -4.59 Z | -10.71% | -4.20 Z | -9.81% | | 600522 中天科技 | | 7.92亿 | 12.50% | -5.28 Z | -8.33% | -2.64 ...

证券代码：601869 证券简称：长飞光纤 公告编号：临 2025-041 长飞光纤光缆股份有限公司 关于股票交易异常波动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、股票交易异常波动的具体情况 公司股票于 2025 年 9 月 16 日至 2025 年 9 月 18 日连续三个交易日收盘价格 涨幅偏离值累计超过 20%，根据《上海证券交易所交易规则》的有关规定，属于 股票交易异常波动情形。 二、公司关注并核实的相关情况 根据上海证券交易所相关规定，公司对相关问题进行了核实，现说明如下： (一) 生产经营情况 长飞光纤光缆股份有限公司（以下简称"公司"）股票于2025年9月16日至 2025年9月18日连续三个交易日收盘价格涨幅偏离值累计超过20%，根据《上 海证券交易所交易规则》的有关规定，属于股票交易异常波动情形； 经公司自查，并向公司第一大股东中国华信邮电科技有限公司发函询证，截 至本公告披露日，不存在应披露而未披露的重大信息。 风险提示： 1、 公司股票价格2025年9月16日至2025年 ...

Market Overview - A-shares experienced a sudden pullback on September 18, with the Shanghai Composite Index and ChiNext Index both dropping over 1% during intraday trading, while the trading volume exceeded 3 trillion yuan [1][2] - The Hong Kong market also saw a significant decline, with the Hang Seng Index falling over 400 points [3] Sector Performance - The tourism sector showed resilience, with stocks like Yunnan Tourism and Qujiang Cultural Tourism hitting the daily limit [2] - Conversely, gold stocks faced substantial declines, with companies like Xiaocheng Technology dropping over 8% [2] - Financial technology stocks also experienced a downturn, contributing to the overall market pressure [5] External Influences - Analysts suggest that the collective decline in international commodity markets may indicate a market reaction to the end of the Federal Reserve's interest rate cuts, leading to profit-taking [1][3] - Despite the drop in the dollar index, the depreciation of the Chinese yuan was limited, with the yuan's share in global payments increasing to 2.93% in August from 2.88% [3] Future Market Outlook - Analysts predict that the recent sell-off may lead to a redistribution of shares, resulting in a continued volatile market leading up to the National Day holiday, but with potential for positive movement in October [6] - The easing of monetary policy by the Federal Reserve is expected to benefit Chinese assets, with potential for interest rate cuts in China, which could create favorable conditions for domestic monetary easing [6] - Historical trends indicate that the initiation of a Federal Reserve rate-cut cycle often leads to significant excess returns in domestic equity markets, particularly in growth sectors like the ChiNext Index [6][7] Investment Opportunities - The launch of an ETF tracking the CSI A500 index by DWS in Europe is seen as a positive development for foreign investment in Chinese assets [5] - The current policy environment and liquidity conditions are viewed as conducive to the emergence of a major bull market, with historical precedents supporting this outlook [7]

Core Viewpoint - The company has observed a growing market interest in optical fiber and cable products related to computing power data centers, particularly in hollow core fibers, which are still in the early application stage and have not yet formed stable sales, pricing, or profit levels [1] Industry Summary - Currently, optical fiber and cable products related to data centers account for a small proportion of the total global demand for optical fibers and cables [1] - Hollow core fibers are considered a cutting-edge product in the industry, but their business development is contingent on the further maturation of the supply chain [1] - The current hollow core fiber-related business has not yet had a significant impact on the company's financial data [1]

人民财讯9月18日电，长飞光纤(601869)9月18日晚间发布股票交易异常波动公告称，公司注意到近期市 场对算力数据中心相关光纤光缆产品，尤其是空芯光纤关注度较高。目前与数据中心相关的光纤光缆产 品占全球光纤光缆需求总量的比例较小，其中，空芯光纤作为行业前沿产品，其应用仍处于早期阶段， 尚未形成规模销售、尚未形成稳定的价格及利润水平，后续业务发展也有待于产业链的进一步成熟。目 前，空芯光纤相关业务尚未对公司财务数据产生明显影响。 转自：证券时报 ...

智通财经APP讯，长飞光纤(601869.SH)公告，公司股票价格2025年9月16日至2025年9月18日连续三个 交易日收盘价格涨幅偏离值累计超过20%，股价波动幅度较大。 公告称，公司注意到近期市场对算力数据中心相关光纤光缆产品，尤其是空芯光纤关注度较高。目前与 数据中心相关的光纤光缆产品占全球光纤光缆需求总量的比例较小，其中，空芯光纤作为行业前沿产 品，其应用仍处于早期阶段，尚未形成规模销售、尚未形成稳定的价格及利润水平，后续业务发展也有 待于产业链的进一步成熟。目前，空芯光纤相关业务尚未对公司财务数据产生明显影响。 ...

Core Viewpoint - The company has noted a rising market interest in optical fiber and cable products related to computing power data centers, particularly in hollow core fibers, which are still in the early application stage and have not yet formed stable sales, pricing, or profit levels [1] Industry Summary - Currently, optical fiber and cable products related to data centers account for a small proportion of the total global demand for optical fiber and cable [1] - Hollow core fiber, as a cutting-edge product in the industry, has not yet achieved significant sales volume or stable pricing and profit levels, indicating that further business development is contingent on the maturation of the industry chain [1] - The current hollow core fiber-related business has not had a noticeable impact on the company's financial data [1]

Core Viewpoint - Changfei Fiber Optics (601869) and its subsidiary are experiencing significant stock price increases due to advancements in fiber optic technology and strong market demand driven by AI and data centers [1] Group 1: Company Performance - Changfei Fiber Optics' stock rose over 6% and is currently trading at 57.2 HKD with a transaction volume of 2.457 billion HKD [1] - The company secured a 50% share in a centralized procurement of G.654.E optical cable products by China Mobile, which totaled 3.1386 million core kilometers [1] Group 2: Industry Developments - A new type of hollow-core fiber developed by the Lumenisity research team, supported by Microsoft, has achieved the lowest signal attenuation level ever recorded, marking a significant breakthrough in optical communication technology [1] - The demand for optical fibers is accelerating due to the increasing interconnect needs of AI-driven data centers, prompting major companies, including Microsoft and domestic firms, to expedite their investments in hollow-core fiber technology [1] Group 3: Product Performance - As data center clusters grow in scale, the performance requirements for optical fiber products, such as effective transmission distance and latency, have increased [1] - Changfei's high-end multimode fibers and its subsidiary Changxin Bochuang's MPO jumpers and AOC components used in data centers have all seen performance growth [1]